Avenue Supermarts Ltd(DMART)

NSE: DMARTBSE: 540376

₹ 3,166-0.01%refreshed 23 Oct, 03:50 pm ISTMarket cap: ₹ 2.07 L crWebsite: www.dmartindia.comUpdated: 24 Oct 2026

About

Avenue Supermarts Limited runs DMart, a supermarket chain in India built on value retailing under an Everyday Low Cost/Everyday Low Price (EDLC/EDLP) principle. It sells Foods, Non-Foods (FMCG) and General Merchandise & Apparel. The company ended FY26 with 500 stores covering 20.58 mn sq ft, and its consolidated revenue from operations was Rs 68,820.74 Cr in FY26. Its store count reached 518 by H1 FY27.^[1][2][3]

Product mix

The company reports retail as its single segment. Consolidated revenue from operations was Rs 68,820.74 Cr in FY26, up from Rs 59,358.05 Cr in FY25.^[1]
Foods made up 56.90% of revenue in H1 FY27, against 57.01% in H1 FY26. Foods was 57.90% of standalone revenue in FY26.^[3][4]
Non-Foods (FMCG) made up 22.26% of revenue in FY26, against 22.28% in FY25.^[4]
General Merchandise & Apparel was 19.82% of revenue in FY26, against 20.01% in FY25, and 19.60% in Q1 FY27, against 19.67% in Q1 FY26.^[4]
Management targets General Merchandise & Apparel to settle at 22-23% of revenue.^[5]

Store network and operations

DMart had 518 stores at H1 FY27, up from 500 at the end of FY26, with 18 stores added in the half. The count includes the Sanpada, Navi Mumbai store, which is closed for reconstruction.^[3]
85 stores were added in FY26, taking the network to 500 stores with 20.58 mn sq ft of retail area.^[1]
Total retail area was 20.7 mn sq ft as of Q1 FY27 (end-June 2026).^[5]
DMart had 84 distribution centres and 12 packing centres as of 31 March 2026.^[1]
As of FY26, Maharashtra had 128 stores, Gujarat 75, Telangana 48 and Andhra Pradesh 47. Karnataka is also among the largest clusters as of H1 FY27.^[4][3]
68 stores are on long-term leases. 15 leased stores were added in FY26, as the leased model opens land-scarce cities such as NCR.^[5]
At the end of FY26, DMart had 20,994 permanent and 75,577 contractual employees, 96,571 in total.^[1]

Key operating metrics

Same-store sales growth (stores older than 24 months) was 5.5% in Q1 FY27, against 8.1% in FY26.^[5]
Revenue per sq ft was INR 33,422 in FY26, against INR 33,896 in FY25.^[1]
Total bill cuts were 39.8 crore in FY26, against 35.3 crore in FY25. Bill cuts were 11.0 crore in Q1 FY27.^[1]
Days inventory was 33.2 days in FY26, against 31.4 days in FY25. Days payables were 7.2 days in FY26, the same as in FY25.^[5]
Standalone gross margin was 14.30% in FY26, up 16 bps. Management targets a 14-15% range.^[5]

Customers and reach

DMart serves all income groups. Most of the products it stocks are essentials that form part of basic spending.^[1]
DMart does not export goods or services and has no stores or offices outside India.^[1]

DMart Ready (e-commerce)

DMart Ready operated in 11 cities in H1 FY27, against 19 cities in H1 FY26, and is now focused only on large towns.^[3]
DMart Ready had 165 pickup points as of Q1 FY27.^[5]
Avenue E-Commerce Limited (AEL), which runs DMart Ready, had a net loss of INR 307 Cr in FY26, against INR 247 Cr in FY25.^[5]
The FY26 AGM notice seeks approval for up to Rs 500 crore of further investment in AEL, funded from internal accruals, and for sales of goods to AEL of up to Rs 3,500 crore at landed cost plus a markup of up to 3%.^[1]

Expansion and capex

Management's internal target is to add about 15% of the store base, about 75 stores, each year. Cluster-based expansion continues as of H1 FY27.^[4][3]
Capital commitments for sites under construction were Rs 5,294.10 Cr in FY26, against Rs 4,298.58 Cr in FY25.^[1]
Issuance of INR 1,000 Cr of non-convertible debentures was approved to fund expansion capex.^[5]
The commercial paper limit was raised from Rs 300 crore to Rs 500 crore.^[1]

Recent developments

Anshul Asawa became CEO on 1 Feb 2026 and Managing Director on 1 Apr 2026, for 3 years, after Neville Noronha exited.^[1]
COO Bhaskaran N is proposed for re-appointment as Whole-time Director until 31 May 2028.^[1]
Standalone revenue from operations was INR 19,206.18 Cr in Q2 FY27, against INR 16,218.79 Cr in Q2 FY26.^[6]
New stores opened in Bengaluru on 23 Sep 2026 and at Bodakdev, Ahmedabad on 24 Sep 2026.^[7][8]
Avenue Food Plaza reported a PAT of INR 9 Cr in FY26 on 35.5% sales growth, after a loss in the prior year.^[5]
An upgrade of the ERP and operations technology systems is planned.^[5]

Market Cap

₹2,06,501 Cr

High / Low

₹4,642 / 3,104

Stock P/E

66.2

Price / Book

7.9

Book Value

₹375

EPS

₹45.6

No. of Shares

65.2 Cr

ROCE

17.2%

ROE

13.0%

OPM

6.1%

Debt / Equity

0.10

Sales

₹68,821 Cr

Net Profit

₹2,970 Cr

Promoter holding

74.5%

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